AU Wool Market Continued Fall
March 29, 2013
This week was the final Australian wool sale before the annual one-week Easter recess. The sale was limited to a two-day format in a Tuesday/Wednesday pattern given the short week (Friday was a national public holiday) and the national volumes were correspondingly lower than previous weeks.
As with last week, Melbourne had the greatest capacity (52 percent of the total) and included its fifth largest selling day for the season on Thursday. Conversely, Sydney had its fifth smallest sale-week for the season.
The fall in the market continued this week and the run of losses in the Australian Wool Exchanges-Eastern Market Indicator (EMI) was stretched to seven consecutive days, the longest losing streak in seven months. Over that period, the EMI has fallen 57 cents, or just over 5 percent.
Reprinted in part from AWEX